**PMG, Lion Development Group, and Marc Roberts Companies Secure $215M for 659-Unit Miami Development**
PMG, along with Lion Development Group and Marc Roberts Companies, has secured a $215 million construction loan for 38 West Eleventh Residences Miami. The project, a 44-story condominium tower located at 38 Northwest 11th Street in the Park West neighborhood, is currently 99% sold and will consist of 659 fully furnished luxury residences.
GoldenTree Asset Management provided the financing, while PMG Residential serves as the exclusive sales representative for the property. The building is being designed by Sieger Suarez Architects, with John Moriarity & Associates serving as the general contractor. Completion is anticipated in the first quarter of 2028.
The development is notable for its unique 30,000-square-foot, tri-level experiential entertainment venue and its groundbreaking approach to short-term rentals. 38 West Eleventh will be the first residential condominium in Miami to allow owners to host on Airbnb 365 days a year, offering both flexibility and investment potential.
Additional amenities for residents will include a swimming pool, fitness center, supper club, and co-working spaces.
